Insolvency and Bankruptcy Code, 2016 (IBC) amended on 23 November 2017 by the Government of India promulgating ordinance to bar defaulting promoters from bidding for their own assets is one of the biggest disruptive initiatives towards a more transparent and cleaner way of doing business and pushing Indian businesses to adapt new ways and change old practices. The ordinance:
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Insolvency and Bankruptcy Code, 2016 (IBC) was passed by parliament in May 2016 and became effective in December 2016 with the aim to consolidate the laws relating to reorganisation and insolvency of companies and limited liability entities, unlimited liability partnerships and individuals, into a single legislation to provide for a greater clarity in law and facilitate the appl...
BrahMos air version anti shipping missile was successfully fired on 22 November 2017 by Indian Air Force from its frontline Su-30 MKI fighter aircraft off the Eastern Coast. The launch from the aircraft was smooth and the missile followed the desired trajectory before directly hitting the ship target. Crew comprising Wg Cdr Prashant Nair and Wg Cdr KP Kiran Kumar test fired the missile while the...
On the on-going Rohingya crisis, Ms Suu Kyi, the de-facto head of Myanmar's civilian administration, who is accused of ignoring the plight of 600,000 Rohingya, that have been forced to flee the country to Bangladesh, gave an assurance in the recently held 31st ASEAN Summit at Manila in Philippines on 13 & 14 November 2017 that the crisis was being addressed. International pressure...
Sagarmala, also called Blue economy, launched in 2015 is a strategic and customer-oriented initiative of the Government of India to modernize India's Ports so that port-led development can be augmented and coastlines can be developed to contribute in India's growth. Prime Minister Narendra Modi, had stated, “To me the Blue chakra or wheel in India’s national flag represents the ...
The 31st ASEAN Summit at Manila in Philippines ended up gifting, “ASEAN Consensus on the Protection and Promotion of the Rights of Migrant Workers” on 14 November 2017 as the Heads of States/Governments signed a historic milestone, in the year 2017 that marks the 50th anniversary of ASEAN and the tenth year since the adopti...
Dr Manmohan Singh, Born in 1932, Former Prime Minister, Finance Minister and Governor of Reserve Bank of India will be the recipient of 2017 Indira Gandhi Prize for Peace, Disarmament and Development, as announced by the Indira Gandhi Memorial Trust on the eve of Indira Gandhi’s birth anniversary. This year is Indira Gandhi's birth centenary; she was born on 19 November 1917.
Moody’s Investors Services, the Global credit rating agency, upgraded India’s sovereign rating to the highest since 1988, on 17 November 17, raising it for the first time in 13 years, citing the country’s high growth potential in the years to come, and its large and stable financing base for government debt, that will likely contribute to a gradual decline in the general government debt burden o...
Judge Dalveer Bhandari has been re-elected to the International Court of Justice (ICJ) on overwhelmingly support of India by the UN General Assembly and UN Security Council on voting in New York on 20 November 2017 to fill the fifth vacancy for the 2018-2027 term. Judge Dalveer Bhandari received all 15 votes in the UN Security Council and 183 out of the 193 votes in the UN General Assembly which...
Cobot or co-robot or collaborative robot is a robot intended to physically interact with humans in a shared workspace, designed to assist human beings as a guide or assistor in a specific task. Cobots are predominantly used for repetitive tasks whereby intelligent support systems using cobots assist the workers, rather than replacing them. This collaborative aspect obviously is the key for desig...